3 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 09887844 2022-10-01 2023-09-30 09887844 2023-09-30 09887844 2022-09-30 09887844 2021-10-01 2022-09-30 09887844 2022-09-30 09887844 2021-09-30 09887844 core:FurnitureFittings 2022-10-01 2023-09-30 09887844 core:MotorVehicles 2022-10-01 2023-09-30 09887844 bus:Director1 2022-10-01 2023-09-30 09887844 core:WithinOneYear 2023-09-30 09887844 core:WithinOneYear 2022-09-30 09887844 core:FurnitureFittings 2022-09-30 09887844 core:MotorVehicles 2022-09-30 09887844 core:FurnitureFittings 2023-09-30 09887844 core:MotorVehicles 2023-09-30 09887844 core:AfterOneYear 2023-09-30 09887844 core:AfterOneYear 2022-09-30 09887844 core:ShareCapital 2023-09-30 09887844 core:ShareCapital 2022-09-30 09887844 core:RetainedEarningsAccumulatedLosses 2023-09-30 09887844 core:RetainedEarningsAccumulatedLosses 2022-09-30 09887844 core:FurnitureFittings 2022-09-30 09887844 core:MotorVehicles 2022-09-30 09887844 bus:SmallEntities 2022-10-01 2023-09-30 09887844 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 09887844 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 09887844 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 09887844 bus:FullAccounts 2022-10-01 2023-09-30
COMPANY REGISTRATION NUMBER: 09887844
ULTIMATE COOLING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 September 2023
ULTIMATE COOLING LIMITED
STATEMENT OF FINANCIAL POSITION
30 September 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Tangible assets
5
36,792
31,314
CURRENT ASSETS
Debtors
6
19,771
22,008
Cash at bank and in hand
18,354
11,375
---------
---------
38,125
33,383
CREDITORS: amounts falling due within one year
7
34,439
31,454
---------
---------
NET CURRENT ASSETS
3,686
1,929
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
40,478
33,243
CREDITORS: amounts falling due after more than one year
8
40,143
30,776
---------
---------
NET ASSETS
335
2,467
---------
---------
ULTIMATE COOLING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 September 2023
2023
2022
Note
£
£
£
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
334
2,466
-----
--------
SHAREHOLDERS FUNDS
335
2,467
-----
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30th September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 February 2024 , and are signed on behalf of the board by:
Mr P Edgar
Director
Company registration number: 09887844
ULTIMATE COOLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30th SEPTEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Chester Close, Morecambe, Lancashire, LA3 3RF.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
BASIS OF PREPARATION
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
TANGIBLE ASSETS
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
DEPRECIATION
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
-
20% straight line
Motor vehicles
-
25% straight line
FINANCE LEASES AND HIRE PURCHASE CONTRACTS
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2022: 4 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1st October 2022
3,377
56,393
59,770
Additions
31,906
31,906
Disposals
( 16,742)
( 16,742)
--------
---------
---------
At 30th September 2023
3,377
71,557
74,934
--------
---------
---------
Depreciation
At 1st October 2022
1,457
26,999
28,456
Charge for the year
518
17,888
18,406
Disposals
( 8,720)
( 8,720)
--------
---------
---------
At 30th September 2023
1,975
36,167
38,142
--------
---------
---------
Carrying amount
At 30th September 2023
1,402
35,390
36,792
--------
---------
---------
At 30th September 2022
1,920
29,394
31,314
--------
---------
---------
6. DEBTORS
2023
2022
£
£
Trade debtors
19,001
21,679
Other debtors
770
329
---------
---------
19,771
22,008
---------
---------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,000
2,000
Trade creditors
8,271
12,573
Accruals and deferred income
1,470
1,216
Corporation tax
4,498
1,614
Social security and other taxes
6,986
5,218
Obligations under finance leases and hire purchase contracts
11,195
8,381
Director loan accounts
19
452
---------
---------
34,439
31,454
---------
---------
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
3,333
5,333
Obligations under finance leases and hire purchase contracts
36,810
25,443
---------
---------
40,143
30,776
---------
---------